We’ve seen the headlines:“Applebee’s Deserves to Die”— Eater.“Millennials are Killing Chains like Buffalo Wild Wings and Applebee’s.” — Business Insider.Dine Brands CEO Stephen Joyce’s response: Fake news.
Denny’s took a stock market hit Wednesday (May 2) following a first quarter that came up short in same-store sales, although the performance was split significantly between its company and franchised units.
Brinker International spent the first quarter strategizing its turnaround story. The second was about implementation. Now, it’s time for results.The parent company of Chili’s and Maggiano’s Little Italy said during a May 1 conference call that it “started to see momentum with significant changes in traffic” during the third quarter, a period that ended March 28.
Kent Taylor didn’t need a lot of superlatives to explain Texas Roadhouse’s red-hot April. “When I opened my Christmas presents at Christmas, and I got something I’m not sure I expected, I was [just] happy to see it.
With middle-income consumers back to spending at rates expected during an economic recovery and BJ’s Restaurants 2018 initiatives off to a good start, the company’s first-quarter earnings were favorable.
The first quarter of 2018 marked the fifth consecutive quarter of continued momentum for Tampa-based Bloomin’ Brands, said CEO Liz Smith during an April 26 earnings call. The parent company of Outback, Carabba’s Italian Grill, Fleming’s Prime Steakhouse and Wine, and Bonefish Grill said the tactics of its growth strategy are paying off.
The Cheesecake Factory, Inc.’s first quarter earnings call for 2018, held April 25, found the executive team hopeful for the future. In its 2017 fourth quarter earnings call, the brand had laid out a new year plan of action that involved a focus on digital initiatives with a delivery-integrated point of sale system and a social media marketing strategy.
Après, a digital-first company based in San Francisco offering a plant-based protein beverage developed specifically for premium whole-body replenishment, announced Tuesday the closing of a $1.1 million seed series fundraising round led by Rocana Venture Partners.
South Florida’s successful SuViche Hospitality Group has acquired U.S.-based Novecento brand and in tandem with that acquisition is announcing the opening of Novecento’s fourth location. That opening, slated for summer 2018 in Doral, will signal the arrival of a new Novecento, featuring an updated look and feel, a revitalized menu, and a new wine and bar program.
In the Barclays Capital 2017 industry report on the fastest growing 200 private restaurant chains in the U.S., most of the top 20 consisted of quick-service eateries except for three: First Watch, Black Bear Diner, and Bar Louie.
Bertucci’s Corp. filed for Chapter 11 bankruptcy protection, the company announced Monday (April 16). The Northborough, Massachusetts-based pizza chain also revealed that it has a deal lined up to sell the business for about $20 million to an affiliate of Chicago-based investment firm Right Lane Capital LLC.
Despite a rocky beginning to 2018, there were signs of hope for restaurant operators. Taken from a helicopter view, strong sales to close the previous year led analysts to ask this question: Is a sudden downturn evidence of a fresh trend, or just Mother Nature’s latest cruel twist?March’s results would, thankfully, point to the latter.
Compared to the more glamorous aspects of running a restaurant—experimenting with new dishes, cultivating the perfect ambiance, recruiting top talent—bookkeeping is perhaps the duty restaurateurs are most loath to do.
In August 2017, The Cheesecake Factory started to show some kinks in its armor. After 29 consecutive quarters of positive gains, the brand’s same-store sales declined 0.5 percent in Q2, year-over-year.
Bain Capital Double Impact, which recently invested in fast-casual By Chloe, announced Tuesday (April 10) a strategic commitment to help grow Sustainable Restaurant Group and its two concepts, Bamboo Sushi and QuickFish.